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GDS Holdings Limited (9698) Financial History

4 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

Technology · Information Technology Services · DATA UPDATED 2026-08-10

GDS Holdings Limited (9698) operates in the Information Technology Services industry and is headquartered in Shanghai, China with about 2,434 employees. Its market capitalization is roughly CNY 52 billion. In the fiscal year ended 2025-12-31, 9698 reported CNY 11.4B in revenue and CNY 950M in net income.

GDS Holdings Limited, together with its subsidiaries, engages in the development and operation of data centers in the People's Republic of China.

Interactive charts & full statements →

9698 Revenue & Earnings History — Annual Income Statement

Income statement	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Total Revenue	CNY 11.4B	CNY 10.3B	CNY 9.8B	CNY 9.3B	—
Gross Profit	CNY 2.6B	CNY 2.2B	CNY 2.0B	CNY 2.0B	—
Operating Income (EBIT)	CNY 1.5B	CNY 1.2B	CNY 891M	CNY 821M	—
Net Income	CNY 950M	CNY 3.4B	(CNY 4.3B)	(CNY 1.5B)	—

CNY; CNYM / CNYB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

9698 Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31
Total Revenue	CNY 3.4B	CNY 2.9B	CNY 2.9B	CNY 2.9B	CNY 2.7B	—
Gross Profit	CNY 1.1B	CNY 612M	CNY 639M	CNY 689M	CNY 645M	—
Operating Income (EBIT)	CNY 908M	CNY 394M	CNY 362M	CNY 415M	CNY 365M	—
Net Income	CNY 2.6B	(CNY 467M)	CNY 726M	(CNY 72M)	CNY 763M	—

CNY; CNYM / CNYB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

9698 Free Cash Flow History

Cash flow	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Dividends Paid	(CNY 54M)	(CNY 54M)	(CNY 54M)	(CNY 52M)	—

CNY; CNYM / CNYB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

9698 Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31
Dividends Paid	—	—	—	—	(CNY 14M)	—

CNY; CNYM / CNYB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

9698 Balance Sheet History

Balance sheet	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Total Assets	CNY 80.0B	CNY 73.6B	CNY 74.4B	CNY 74.8B	—
Total Liabilities	CNY 52.3B	CNY 50.0B	CNY 54.3B	CNY 50.6B	—

CNY; CNYM / CNYB as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive 9698 viewer.

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